Local and regional business briefs

TOC 2005 Americas, the Shipping Ports and Terminals Event for the Americas, will be held at the Hyatt Regency Savannah from Tuesday through Thursday.

The focus of TOC is the maritime terminal as the "relationship hub" linking ocean and land in the maritime supply chain. TOC's conference format covers both strategic business development and practical operational issues under the same roof, ensuring a larger audience of industry professionals and improving networking, learning and business opportunities. The TOC Americas exhibition brings together suppliers of handling equipment, systems, software and services for modern port and terminal operations, providing delegates and visitors with the opportunity to review the latest technology and benchmark their procurement strategies.

7,000 acres donated to wildlife refuge

A broad-based coalition including The Conservation Fund, DuPont, International Paper, Georgia Wildlife Federation, elected officials and the U.S. Fish & Wildlife Service announced the transfer of 7,000 acres of working forestland from The Conservation Fund to the Okefenokee National Wildlife Refuge. As part of the agreement, IP (NYSE: IP) will retain harvesting, planting and recreation rights on the property and has committed to operate the forestland under the Sustainable Forestry Initiative program to protect water quality and habitat for endangered species. The agreement also includes a conservation easement held by the Georgia Wildlife Federation that permanently protects the property from mining.

DuPont retired its mining rights on the land immediately adjacent to the Okefenokee National Wildlife Refuge and in 2003 donated its entire holdings near the refuge to The Conservation Fund. As part of the negotiation, The Conservation Fund agreed to donate a portion of the forestland adjacent to the refuge to the U.S. Fish & Wildlife Service.

Corpus Christi plans terminal pact

The Port of Corpus Christi has entered into an exclusive agreement with Dragados-S.P.L. of Madrid, Spain, for development of a long-term lease of an ocean terminal site. The terms of the agreement on the development of the La Quinta Trade Gateway provide for a period of up to six months during which the goals will be to develop a financing structure and the long-term lease.

"We are interested in investing in Texas and consider La Quinta to be a worthy and viable project and a strategic entry point into the Texas market," said Alfredo Duro Olivares, director of terminals for Dragados-S.P.L. "We have the challenge of crafting a financial model that satisfies our requirements and those of the Port of Corpus Christi." Dragados S.P.L. is active in all Spanish ports and main cities. It has established international port operations in France, Portugal, Italy, Morocco, Chile, Dominican Republic and China.

Casual Corner closure prompts sale

The Casual Corner at Oglethorpe Mall is beginning its closing sale today. The closing sales, which are being conducted in 42 states and Puerto Rico, will offer discounts of 40 percent to 60 percent off the lowest ticketed price. Some $500 million in inventory is up for sale across all stores.

"All stores are slated for closure or transfer to a third party," said Malcolm L. Sherman, transitional CEO of Casual Corner Group. "However, we continue to examine the long-term strategic options for the ... stores, including the search for investors interested in continuing ... the brands and operations."

Hearing on inventory tax set

The state director of the National Federation of Independent Businesses, along with state Reps. Chuck Scheid, R-Woodstock; Jill Chambers, R-Atlanta, and Doug Holt, R-Social Circle, will be meeting with small business members and entrepreneurs from the Savannah area to discuss a proposed inventory tax. The meeting, from 6 to 8 p.m. on Wednesday, will be held at the Coastal Georgia Center in Room 111 at 305 Fahm St.

Local business owners will focus on Georgia's ad valorem inventory tax, which is expected to be a key issue in the 2006 session. Earlier this year, the General Assembly adopted HR 486, which created a House Ad Valorem Inventory Tax Study Committee to learn the effects of the imposition and collection of this tax. Many business owners oppose such a plan, arguing the levies have acted as a disincentive to the location or relocation of business facilities in border communities, and should be repealed.